Sales experts say that attracting new customers is 2-3 times more expensive than returning lost customers. If you can convince the customer to make 3-4 or more purchases, you can minimize the cost of conversion.
In addition, a probability that new customers will make a purchase is estimated to be 5%, while those who returned to your website - 60%. There is something to ponder about, right? Let's try to figure it out together.
Reasons customers left
To return a lost customer, you need to understand the reasons that led to them leaving. While studying this problem, we analyzed the available marketing research:
- More than 65% of buyers said that they leave due to poor service. Sellers do not get in touch for a long time, showing indifference to customers, send orders with delays, do not respond to customer requests, etc.
- 15% of customers are not satisfied with the quality of the goods - it often does not meet the declared standards. When contacting the seller, about a third of these customers do not receive a response and are left alone with their problem.
- 10% of buyers go to competitors because they offer better conditions and prices.
- 10% of customers just forget about the store. For example, because the online store does not remind customers about its existence.
As we can see, the cost of goods is far from the key reason for the loss of customers. Most often, buyers are faced with a lack of any interest in the interaction from the seller’s side. At the same time, the business traditionally blames competitors and their dumping prices for their failures.
At Wiremo, we pay so much attention to interacting with users because this is a determining factor for the conversion in the current market conditions. Neither the price, nor the technical characteristics of the product, nor investment in the advertisement will bring positive results if the customer does not feel the emotions of interacting with the website, goods, seller. We already told that emotions can even be negative, but you also need to work with them and turn a dissatisfied customer into your regular customer.
When is the customer considered lost?
There are no universal criteria. In each case, there may be one or several reasons. In our opinion, the customer can be considered lost if he or she did not provide feedback after the purchase. You must track the behavior of each customer. Whether he or she returned to the website to leave a review or re-checked any products - all this should be taken into account. If this is not the case, then the customer is transferred to the risk group. The risk of losing such a person is very large.
The customer has no emotions associated with your store\product\service. He or she does not want to write a review, go and view new products, share a link with friends. Such a customer is lost in terms of repeat sales.
What should you do?
We already figured out the reasons and their effect, and now we need to understand what to do. Don't be surprised at what you’re reading now, but lost customers should not fall out of your sight. Only this way you can return them.
You must constantly warm up the interest of customers with interesting offers and motivate them to repeat purchases, thinking that otherwise, they will lose interest in your products or services at some point. Never dump all customers into one group and be sure to use different tools for each. For example, if the buyer left a negative review, or contacted support about a problem with the product, offer a personalized solution. In addition to replacing the product, send the buyer a personalized message with Wiremo Triggers.
This will improve the first impression, and the customer will begin to perceive your store in a different way. Even if some negative feelings remain, he or she will definitely return to your website to take advantage of the discount or to find a useful product at a discount.
If the buyer is satisfied with everything, send an email a couple of days later with a reminder that you were pleased to work with him or her, and you will be glad if they leave a review. Remind the customer about your website if he or she does not remember about it – always keep an eye on things. Wiremo has many tools for interacting with users. You can use any tool, depending on the category of the buyer, user experience, and your marketing strategy.
Wiremo is not only a convenient reviews plugin for eCommerce websites. This is a full-fledged marketing tool that opens up new opportunities for you to use relevant promotion channels. Perhaps, it is time to change the marketing strategy and focus not on price wars, but the fight for people's emotions and attachment.